Income from operations increased 23.5% to Rp6.45 trillion from Rp5.22 trillion, and operating margin grew to 16.8% from 14.7%. Income for the year attributable to equity holders of the parent entity rose 20.5% to Rp4.58 trillion from Rp3.80 trillion last year; net margin expanded 120bps to 11.9%.
Anthoni Salim, the President Director and Chief Executive Officer of ICBP, said: “Although there were no significant improvements in the FMCG demand, ICBP achieved a commendable performance, delivering strong EPS growth. Entering into 2019, Indonesia FMCG market is expected to grow alongside with the economic growth while competition will remain tough. We will continue our journey ahead focusing for growth by strengthening our market presence, building up our brands that resonate with consumers and improving our competitiveness”.